Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2019 

HIGH RATIO fixed term best discounted rates & posted rates as of October 31, 2019 Terms                        Posted Rates                 Preferred Rates 6 mos                          3.34%                          3.30%1 year                          3.59%                          2.69%2 year...
10/31/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.19% Cost per ...
10/30/2019
Timing of Execution of Confirmation of Acceptance (Ontario)Question:The COA is signed after irrevocable expires.If all on board what REALLY can happen?Answer:The COA MUST always be signed following true acceptance. More than half the time it's signed too early. And, by the way, the irrevocable ti...
10/30/2019
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.19%
10/30/2019
Usual ExampleBob acts for Sam the Seller and Mary acts for Bill the Buyer.Bob and Sam sit together at Sam’s dining room table and go through the process of accepting Bill’s Offer. Mary and Bill are at Mary’s office.8:00 pm      Irrevocable time7:30 pm      Mary leaves Sam’s house7:40 pm      Sam ...
10/22/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.19% Cost per ...
10/22/2019
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.19%
10/21/2019
Improper Execution of the COAMore often than not, an improper time was inserted into the COA. No one read the memo from OREA explaining the differences between the COE and the COA. Actually, that was a bit of a problem: there wasn’t one.So, many agents simply continued with the old practice of th...
10/19/2019
Confirmation of Acceptance added in 2008This is the "new" provision which was added to the OREA Standard Form Agreement of Purchase and Sale in 2008:“CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all changes both typed and wri...
10/19/2019
Use of “As Is” in a Real Estate Contract (Ontario)Question:Why would an agent insist that one insert a clause that says "Buyer acknowledges the home is being bought in as-is condition".We know the condition...risks etc... have no clauses that include any warranties.Answer:All properties are sold ...
10/19/2019
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Brian Madigan

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local_phone(416) 745-2300
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